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2019 9-Month Financial Results INTRODUCTION 2019 9-Month Financial Results INTRODUCTION Turkey’s the largest private and 100% domestically owned company in defense industry A global company, intellectual property rights belong to itself and its products are in use on 5 continents as well as in more than 60 countries Turkish Armed Forces’ leading supplier and exporter of land platforms Turkey’s market leader in passenger bus segment with a capacity of 25 people and over for the last 10 years 1 1 VISION & MISSION Vision Otokar’s vision is to preserve the local and national identity of its products by developing technologies in-house, also to provide continued satisfaction for its clients, employees, and shareholders with total excellence philosophy. Mission Otokar’s primary mission is to design, manufacture and market commercial vehicles and various defense industry products with global competitive strength, all developed to meet customer expectations. 2 2 BRIEF HISTORY 1963 1970s 1980s 1990s 2000s 2010s . Establishment .Turkey’s first .Production of .Military armoured .Merge with the .Establishment of Otokar . Production of interciy bus 4x4 tactical vehicles by own İstanbul Fruehauf Europe (OESAS) buses under .The first Turkish vehicle under desing A.S. .Multi-wheeled armoured the license of Armoured the license of .Turkey’s first .Production of small tactical vehicle family Magirus-Deutz Vehicle Land Rover export of tactical and mid size buses .Production of City Buses production armoured vehicle .Production of .Turkey’s first electric bus Turkey’s first hybrid .Atlas Light Truck .Partnering with .Sakarya bus .Introduced new armoured Koç Group plant/factory .The prime contractor tactical wheeled vehicle, URAL of ALTAY Project .Tracked Armoured Vehicle TULPAR .POYRAZ midibus .Establishment of Otokar Land Systems (OLS) in U.A.E .Turkey’s first electric armoured vehicle, AKREP IIe 3 OVERVIEW Koç Holding USD 268 MILLION 45% EXPORT REVENUES IN 2019 9M FOUNDED IN 1963 SHAREHOLDING Ünver Holding A.Ş. TL 1.877 MILLION %100 LOCAL CAPITAL STRUCTURE 25% TURNOVER IN 2019 9M Other TL 1 BILLION 30% 10-YEAR R&D EXPENDITURES 5.000 BUSES& 3.700 TACTICAL MINIBUSES VEHICHLES 1.966 552.000 M2 APPROX. 300 EMPLOYEES PRODUCTION AREA SALES&SERVICE NETWORK PRODUCTION CAPACITY 900 (YEARLY) TACTICAL 1.600 ARMORED TRUCKS& VEHICLES LIGHT TRUCKS 1 OUT OF EVERY 3 BUSES SOLD 1.850 TRAILERS& IN TURKEY IN 2018 IS OTOKAR SEMI-TRAILERS 4 HUMAN RESOURCES 5 PRODUCTION PLANT . 552.000m2 factory with an annual production capacity of 13,050 units and approximately 2000 employees in Arifiye/Sakarya 6 Number of Growth in Export Markets Countries 90 80 70 31 32 60 30 29 50 25 26 26 22 40 20 19 19 30 18 46 49 51 20 15 38 38 38 42 15 32 36 10 10 24 25 10 7 9 18 4 5 6 6 9 9 11 14 0 4 4 4 4 4 4 COMMERCIAL DEFENSE Export (USD) Segment Based Export 250 200 45% 150 39% 40% 55% 100 72% 63% 57% 53% 65% 89% 77% 71% 55% 50 96% 61% 60% 27% 45% 37% 28% 43% 47% 23% 35% 73% 29% 0 4% 11% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 COMMERCIAL DEFENSE 7 7 AREAS OF OPERATION 2019 9M Total revenue : 876 mn TL 34 mn TL 743 mn TL 225 mn TL Rev. contribution : 46% 2% 40% 12% Domestic : 142 mn TL 33 mn TL 43 mn TL Armoured 129 mn TL Export : 733 mn TL 1 mn TL 700 mn TL 96mn TL *Export share : 84% (bus) 4% 94% 43% (spare part) ** Export share : 39% (total) - 37% 5% (total) * The share of exports in the relevant segment vehicle turnover. ** The share of exports in total company turnover. 2018 9M Total revenue : 519 mn TL 45 mn TL 56 mn TL 188 mn TL Rev. contribution : 64% 6% 7% 23% Domestic : 223 mn TL 44 mn TL 28 mn TL Armoured 149 mn TL Export : 296 mn TL 1 mn TL 28 mn TL 39 mn TL Export share : 57% (bus) 2% (cargo trans.) 50% (armoured) 21% (spare part) Export share : 37% (total) - 3% (total) 5% (total) 8 8 AREAS OF OPERATIONS • Widest product range in the Turkish bus segment with an • The leading supplier of land defense systems. offering that includes buses from 7 to 18.75 meters with varying passenger capacities suitable for urban, intercity • More than 30.000 vehicles are actively used both in and tourism transportation.. Turkey and also in over 30 allied and friendly countries across continents by their armed forces and security • Exporting buses to more than 50 countries, particularly forces. in Europe. •Products are manufactured on order basis depending on • Working on alternative fuelled vehicles. inteded purposes, capacity and production levels. • In light truck segment, manufacturing light truck with 8.5- ton weight capacity under license since 2013. 9 9 COMMERCIAL VEHICLES 10 DEFENSE INDUSTRY VEHICLES 11 11 COMMERCIAL VEHICLES 1 OUT OF EVERY 3 BUSES SOLD IN TURKEY IN 2018 IS OTOKAR 1 out of every 3 buses sold in Turkey in 2018 is Otokar In the all segments in which operates as a market leader, became the most sold brand in Turkey. Otokar accelerated its export activities, doubled its exports. Total vehicle park rose to 2.850 levels in key target export markets, namely France, Italy and Spain. Won the 400 bus tender of the Municipality of Bucharest and signed the largest bus export agreement for Turkish bus brand. 12 12 OTOKAR 2019 Won the bus tender of the Municipality of Bucharest for 400 units of 98.3 million Euro. The tender is featured to be the biggest bus export agreement of a Turkish bus brand. Deliveries started in 2018 and were completed in the first half of 2019. We won the bus tender of Amman Municipality, received a total of 135 bus orders. Deliveries were completed in the first quarter of 2019. Vectio C buses serving in Berlin were exhibited at the BUS2BUS exhibition in Berlin, Germany. 13 13 OTOKAR 2019 Otokar has risen up 38 positions this year, in the survey of ISO 500 Top Industrial Enterprises organized by Istanbul Chamber of Industry (ISO) for 51 years. According to 2018 results of the survey where gaint Turkish companies listed, Otokar took 49th place and continued its success. Sultan Comfort has been renewed. Sultan's Comfort model is equipped with new features. Sultan Comfort, which attracts attention with its low operating expenses, superior performance and durability and has a passenger capacity of 29+1, can now be used in tourism, as well as student and personnel transportation with its new features. Busworld fair, which was organized for the first time in Almaty, Kazakhstan, Otokar exhibited its Kent city bus suitable for disabled passenger transportation. In addition, users were informed about the wide range of buses from 7 meters to 18.75 meters and its large bus family. 40 right-hand drive Kent buses were delivered to Malta. Otokar's total number of buses on the streets of Malta reached to 244 wtih this delivery. Otokar branded buses generate 60 percent of the total public transportation buses operating on the island. 14 14 OTOKAR 2019 About the supply of 8x8 armored vehicles; the first batch deliveries of the export order began at the end of 2018. The project continues in 2019 as planned. Otokar attended to IDEX 2019 with its ARMA 6x6, COBRA II 4x4 as well as BOZOK turret, KESKIN turret systems. Otokar participated in LAAD Defense & Security exhibition in Brazil. Otokar promoted its own design and production, different versions of its wide range armoured vehicles from 4x4 to 8x8 and tracked armoured vehicle which are capable of superior mobility, as well as turret systems. 15 16 OTOKAR 2019 Otokar introduced the country's first domestically developed electric-powered armored combat vehicle Akrep IIe at a news conference at the Otokar compound in Sakarya province. A unique product of Otokar's innovative approach, URAL Special Operations Vehicle (SOV), the new variant of the versatile modular URAL platform, exhibited at IDEF 2019 Otokar, global land defense systems manufacturer of Turkey, exhibited 10 military armoured vehicles and its own design turret systems at IDEF 2019 Otokar participated in DSEI exhibition in London. Otokar exhibited its tracked armored vehicle TULPAR and its wheeled armored vehicle COBRA II. 16 16 BACKLOG Million Backlog 3000 2720 2500 1946 2000 1500 1000 430 500 335 76 8 0 2013 Year End 2014 Year End 2015 Year End 2016 Year End 2017 Year End 2018 Year End 2019 9M TL USD EUR Total TL Appx. The above backlog amounts and deliveries will be held directly by Otokar Otomotiv ve Savunma Sanayi A.Ş., is related to important projects. Backlog consists of the 8x8 armored vehicle order. Balance orders amount to US $ 335 million and € 8 million. 17 19 WHY OTOKAR Leader Strong export performance Significant compliance to corporate governance The most preferred brand in and a global company principles the 25 or more people Increased Corporate capacity bus for the last 10 In addition to its strong export Governance Rating to 94.02 years in Turkey performance, Otokar strengthened its global (9.4 out of 10) as a sign that it presence with its subsidiaries in has achieved significant Sustainable growth and profitability France, Romania and the compliance with corporate Total turnover increased by 13% in the United Arab Emirates. Export governance principles last 15 years, Net profit increased by revenue increased by 21% on average in the last 10 years. Products that are 15% in the last 15 years, with the intellectual property rights annual compound growth rate. Otokar The share of Otokar design Consistent dividend R & D capabilities and flexible vehicle sales in turnover is distribution production capability 99%.
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